Industry News

Mortgage lending cuts into Wall Street banks’ profits

Originations down, foreclosures up in Q2
Published on Jun 15, 2007

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by CareyBot

Wall Street investment banks Goldman Sachs, Bear Stearns and Lehman Brothers reported a drop in revenue from mortgage underwriting, although second-quarter profits were still up at two of the three firms. Bear Stearns Companies Inc. said profits were down 10 ...